House Votes to Let Banks Take Deposits from Marijuana Businesses

In a historic vote this afternoon, the US House has approved an amendment to the Treasury Department appropriations bill barring the agency from spending any money to punish financial institutions that provide services to marijuana businesses where it is legal.

The amendment was sponsored by Reps. Heck (D-WA), Perlmutter (D-CO), Lee (D-CA) and Rohrabacher (R-CA). It passed with bipartisan support.

This is the second time in less than two months that the House has voted to roll back marijuana law enforcement. In May, the House passed an amendment prohibiting the Drug Enforcement Administration (DEA) from undermining state medical marijuana laws and passed two amendments prohibiting the DEA from interfering with state hemp laws.

“Congress is yet again rejecting the failed war on marijuana,” said Bill Piper, director of national affairs for the Drug Policy Alliance. “They have read the poll numbers and are doing both what is right and what is politically smart.”